UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 20, 2007
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KRONOS ADVANCED TECHNOLOGIES, INC.
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(Exact Name of Registrant as Specified in Charter)
Nevada 000-30191 87-0440410
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
464 Common Street, Suite 301 Belmont, Massachusetts 02478
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (617) 364-5089
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions ( see General Instruction A.2. below):
[] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Kronos Advanced Technologies, Inc. ("Kronos") entered into a
Settlement Agreement and General Release (the "Agreement") with FKA
Distributing Co. d/b/a HoMedics, Inc. and HoMedics-U.S.A., Inc.
(collectively "HoMedics"). In exchange for Kronos making a $1 million cash
payment within 120 days following the date of the Agreement, HoMedics
agreed to cancel the entire $3.1 million of principal and accrued interest
owed to them, to cancel 26.5 million warrants, to modify the terms of their
remaining 13.5 million warrants, and to return unencumbered their license
for Kronos consumer retail products. In the event Kronos fails to make the
$1 million payment to HoMedics within 120 days from the execution of the
Agreement, the parties have agreed that the Agreement shall automatically
be voided and have no further force and effect.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) None
(b) None
(c) None
(d) Exhibit No. Description
Exhibit Description Location
99.1 Settlement Agreement and General Provided herewith
Release, dated February 20, 2007
by and between Kronos Advanced
Technologies, Inc. and FKA
Distributing Co. d/b/a HoMedics,
Inc. and HoMedics U.S.A., Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KRONOS ADVANCED TECHNOLOGIES, INC.
(Registrant)
By: /s/ Daniel R. Dwight
Daniel R. Dwight
Chief Executive Officer
Date: February 21, 2007